PayPal Inc. this year will set up its first foreign currency settlement platform in Chongqing, China, along with five international e-commerce centers under an agreement the unit of eBay Inc. signed with the Chongqing Municipal Government on Dec. 28.

Like the early-'90s floral dresses and flannel shirts that became fashionable again, two retro credit products — secured lines of credit and personal loans — staged a comeback in 2010.

For all the hullabaloo mobile remote-deposit capture generated in 2010, the availability of the service that enables consumers to deposit checks from home using the cameras on their smartphones remains limited to a few banks’ customers.

ESPOO, Finland – After making its Angry Birds the dominant game on two mobile platforms, developer Rovio Mobile Ltd. is taking flight in a new line: payments.

Mobile banking’s of little use as an innovation if apps can’t ensure the identity of the user, creating a lucrative security market in which Tyfone just scored a pair of patents.

Telecommunication firm Tata Indicom, the brand name of Mumbai-based Tata Teleservices Ltd., has signed a mobile-remittance deal with eSSecom Pvt. Ltd., the company announced Dec.15.

The Central Bank of Nigeria earlier this month reportedly granted its approval to allow FirstBank Nigeria PLC to offer mobile-payment services in the East African country.

The FBI has raided a Dallas server farm that housed computers used to launch Internet attacks against PayPal Inc., according to an affidavit posted by TheSmokingGun.com.

The social-media landscape is still an untamed jungle for many financial institutions, but a few intrepid companies have cut a clear path for themselves.

Oberthur Technologies and MasterCard Worldwide have launched MasterCard M/Chip Advance, a technology designed to enhance card payments by incorporating more cardholder and third-party data into transactions, the two companies announced Dec. 22.

Carrefour Group, a France-based retailer with operations in Europe, Asia and South America, has launched its first prepaid card through a bank in Romania, the company announced Dec. 27.

A startup called Maxamum Inc. is trying to break down the credit system’s long-standing Catch 22–consumers generally cannot establish a credit history without having a credit card, but they typically cannot get a credit card without a credit history.

Discover Financial Services is going into the new year in a relatively stronger position than it was a year ago, helped by the improving economy and by recent key strategic moves it has made, a new report suggests.

Technology advancements can sometimes feel like they are occurring at lightning speed. Trying to keep up with the latest and greatest keeps us busy.

Vantage Credit Union of St. Louis says it has dramatically improved customer engagement by enabling members to access the Facebook Inc. and Twitter Inc. social-media websites from within online banking. Those who access Facebook and Twitter through its online-banking tool spend twice as much time on the credit union’s website as the users who do not.

Think Computer Corp. has introduced a digital-coupon system integrated into its mobile-payments application that relies on facial recognition to confirm a user’s identity at the point of sale to help combat payment fraud.

Visa Inc. unveiled its new special offers mobile payment app, placing it in a crowded market for merchant perks that also includes a major push by rival MasterCard Worldwide.

Snapper Services Ltd. has become the latest organization to join the new “super ticket” system planned for Auckland, New Zealand’s public transport system, the integrated ticketing provider announced Dec. 16.

As major financial services providers sever ties to WikiLeaks, a little-known alternative payments startup in the U.K. has stood by the embattled organization.

The company behind the popular mobile-phone game Angry Birds is adding a payment option using a model that has gained traction in recent months with U.S.-based wireless operators.